Norfolk-based electricals retailer Bennetts has fallen into administration, making 228 members of staff redundant.
The retail chain, which has been trading from 16 stores since 1991 and had a turnover of £55m last year, appointed administrators on March 10 after suffering tough trading conditions and a poor Christmas.
Speaking to
DIY Week, David Merrygold, corporate recovery partner of accountants and business advisors PKF LLP, said: "All 16 stores have actually closed but a skeleton staff is there for stock taking etc. 57 staff members remain and we're hopeful that some of the staff will return to work if a purchase is made for some or all of the business."
Last week he confirmed that PKF was already in discussions with a number of parties, and was "hopeful that we will conclude a sale of the business within the next two weeks".
Bennetts managing director Mike Jones said: "The directors and staff have worked extremely hard over the past two years, harder than at any other time in our history, in an effort to address the particular challenges that the economic climate has presented, this being primarily due to the lack of consumer confidence. We are hopeful that PKF can find a suitable rescue package with all due speed in order to preserve as many jobs as possible, so that we can commence trading again with our loyal customers."
Matt Howard, Philip Long and Stephen Holgate from PKF have been appointed as administrators and a dedicated customer helpline (0845 458 2000) has been set up to deal with any enquiries.